 Learning to make better strategic decisionsEric Cardella Journal of Economic Behavior & Organization, 2012, vol. 84, issue 1, 382-392 Abstract: Strategic settings are often complex and agents who lack deep reasoning ability may initially fail to make optimal decisions. This paper experimentally investigates how the decision making quality of an agent's opponent impacts learning-by-doing (LBD) and learning-by-observing (LBO) in a 2-player strategic game. Specifically, does LBD become more effective when agents face an opponent who exhibits optimal decision making? Similarly, does LBO become more effective when agents observe an opponent who exhibits optimal decision making? I consider an experimental design that enables me to measure strategic decision making quality, and control the decision making quality of an agent's opponent. The results suggest that LBD is more effective when facing an optimal decision making opponent. Whereas, LBO is, at most, marginally more effective when observing an optimal decision making opponent. The results also suggest that LBD is at least as effective as LBO at improving decision making in the 2-player game considered. Keywords: Learning; Learning-by-doing; Learning-by-observing; Strategic game; Dominant strategy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:84:y:2012:i:1:p:382-392 DOI: 10.1016/j.jebo.2012.04.011 Access Statistics for this article Journal of Economic Behavior & Organization is currently edited by Houser, D. and Puzzello, D. More articles in Journal of Economic Behavior & Organization from Elsevier |
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